RadioShack cash collateral use extended via stipulation until June 27

By Caroline Salls

Pittsburgh, June 5 – RadioShack Corp. obtained an extension of its cash collateral use until June 27, according to an order filed June 5 with the U.S. Bankruptcy Court for the District of Delaware.

The company said that an extension of the cash collateral is needed to wind down its remaining business operations and to perform “under the transition services agreement with General Wireless and sell the remaining assets.”

As previously reported, RadioShack received final approval on March 6 of a $285.33 million debtor-in-possession facility and of the use of cash collateral.

RadioShack is a Fort Worth-based technology retailer that filed for bankruptcy on Feb. 5. Its Chapter 11 case number is 15-10197.

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